AM Bank Builds Next-Generation Digital Banking Services with Finastra

CASE STUDY

Using Fusion Digital we “have built an extremely secure, easy-to-use mobile banking application that helps customers manage their accounts and keep track of their money.” Nahla Bou-Diab Deputy General Manager – COO, AM Bank At a Glance

Solution About AM Bank •• Fusion Equation Established in 1980, AM Bank is one of Lebanon’s most awarded banks and offers a •• Fusion Digital Channels wide range of corporate, personal and private banking services. As a leading financial •• Fusion Digital Platform services provider, AM Bank is committed to delivering excellent customer service •• Fusion Trade Innovation through innovation.

The Challenge

Hungry for 24/7 access to financial products and services, more people around the We aim to have all of our world are choosing to bank online and via mobile devices. To inspire a new generation of “customers onboarded on consumers to use its products and nurture the loyalty of existing customers, AM Bank our digital platform by the set out to develop cutting-edge digital banking services and reveal new opportunities to increase market share. end of 2019.” The Solution Nahla Bou-Diab As the first step in its digital transformation journey, AM Bank leveraged Finastra's Deputy General Manager – COO, Fusion Advance services to upgrade its core banking platform to Fusion Equation 4.3 AM Bank to drive digital innovation and equip the bank with a cutting-edge, compliant and flexible core banking system. With Fusion Digital powering the development of its online and mobile banking applications, AM Bank can now provide customers with a host of feature-rich, personalized banking services at the touch of a button. To strengthen its trade finance offerings, the bank also upgraded its platform to Fusion Trade Innovation ahead of recent changes to SWIFT regulations.

The Result Designed to meet the needs of digitally-savvy consumers, AM Bank’s new mobile and online banking applications are helping the bank to both reach out to a broader customer base and strengthen its foothold in the Lebanese banking sector. Today, the bank can provide customers with personalized services that empower customers to manage their money effectively and strengthen their personal finances.

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2 FINASTRA Case Study

The security features of Fusion Digital “are impressive, offering the option to use multiple identity validation techniques such as biometric authentication and fingerprint scanning.” Nahla Bou-Diab Deputy General Manager – COO, AM Bank

Joining the Digital Revolution Next-Generation Development Embracing a Digital Future As more people choose to bank via Taking the first step in its digital AM Bank’s mobile banking application has digital channels, the race is on for banks innovation strategy, AM Bank upgraded already established a strong foothold in to develop convenient, flexible mobile its core banking platform to the latest the market, and represents a vital avenue and online banking applications that version of Fusion Equation. for the bank to reach out to customers offer unique customer experiences. beyond its branch network. For example, “We’ve used Fusion Equation as our Banks that fail to innovate risk losing within four months of launching its core banking system for many years,” valuable market share to competitors digital services, thousands of customers explains Nahla Bou-Diab. “It has proven and industry disruptors. had already installed the application on to be a reliable and stable system, their smartphones. Nahla Bou-Diab, Deputy General and is very well-known in the global Manager – COO at AM Bank, comments: environment. To strengthen our Nahla Bou-Diab says: “Using Fusion “We know that to win new business and position as the leading bank in Lebanon, Digital we have built an extremely secure, improve customer loyalty, we must give we decided it was time to upgrade easy-to-use mobile banking application our clients a convenient, reliable, and Fusion Equation.” that helps customers manage their highly personalized banking experience. accounts and keep track of their money Next, AM Bank launched its new That’s why we are constantly on the at the touch of a button. For instance, AM Bank mobile banking app using lookout for new ways to enhance and we included a unique widget called Fusion Digital—a suite of cutting-edge improve our products and services.” ‘Comfort Zone’ in the application, development tools specifically designed which enables customers to get a better Keen to lead the digital banking to meet the needs of the digital insight into their financial position and revolution in Lebanon, AM Bank decided banking sector. personalize their banking experience. to launch new mobile and online Nahla Bou-Diab continues: “We were Our customers really love this feature.” banking capabilities. attracted to Fusion Digital because we Inspired by the early success of its In 2011, AM Bank was the first could quickly and easily integrate it with digital banking platform, AM Bank bank to introduce digital banking to our existing Fusion Equation banking wants to ensure that all of its customers the Lebanese market. Since then, platform. The security features of know how to use its online and mobile the company's technological innovations Fusion Digital are impressive, offering banking solutions. have been substantial, with a focus the option to use multiple identity to keep pace with evolving consumer validation techniques such as biometric “We recognize that we have a social expectations. AM bank set out to find authentication and fingerprint scanning. responsibility to our customers, a comprehensive solution that would We were confident that these robust and we’re working hard to ensure that offer richer functionality and provide security features would help us to all of our customers—including the customers with a seamless omni-channel encourage our customers to adopt less tech-savvy—are able to engage digital banking experience. mobile banking.” with our digital banking services,” continues Nahla Bou-Diab. “We aim to Nahla Bou-Diab comments: In addition, Fusion Digital enables have all of our customers onboarded on “We constantly monitor the digital banking AM Bank to integrate its digital banking our digital platform by the end of 2019.” space in Lebanon to get a clear sense of platforms with third party solutions via our customers’ expectations and to see if easy-to-use APIs, which will help the bank With online and mobile banking services they are ready to adopt new technologies. forge even closer connections with its proving particularly popular with We recognized that this was the best time business partners. millennial customers, AM Bank expects to introduce a new digital platform that is that the personalized services it offers via “In the fast-changing banking industry, substantially more sophisticated.” its digital platform will appeal to digital being able to innovate quickly and natives—helping the bank to expand its Before the bank began designing a truly efficiently is key to maintaining success customer base. unique user experience, it first wanted to in the market,” says Nahla Bou-Diab. ensure that its core banking system could “Thanks to the inherent flexibility and support a flexible, scalable, and secure compatibility of Fusion Digital, we can digital banking platform. work closely with FinTechs and other banks to build an even more diverse ecosystem of partners.” FINASTRA Case Study 3 AM Bank will continue to work with Finastra as it plans the next stage in its digital transformation journey

Nahla Bou-Diab adds: “We haven’t yet Over two decades, AM Bank has built We respect the input of the satisfied our appetite for innovation. a close partnership with Finastra, In the coming months, we aim to adapt a relationship that has helped the bank “Finastra team, and look forward and further develop our mobile and online become one of the leading financial to working with them to steer the banking capabilities, so we can offer services providers in Lebanon. long-term development of our even more convenient and personalized Nahla Bou-Diab explains: “Finastra works services to our customers.” products and services.” with almost all leading banks in Lebanon, which has helped to foster a sense of Strong, strategic partnership Nahla Bou-Diab community in the sector: we are always To upgrade its core and trade finance Deputy General Manager – COO, supporting one another in an effort to platforms, AM Bank utilized the Fusion AM Bank promote best-practice countrywide.” Advance service—a proven upgrade methodology that has enabled Finastra She concludes: “We respect the to complete many complex and diverse input of the Finastra team, and look upgrade projects successfully over the forward to working with them to steer last two years. the long-term development of our products and services.” "We are very happy with how seamlessly both the Fusion Equation and the Fusion Digital implementation was carried out, delivering the projects within a set time-frame,” says Nahla Bou-Diab. “It was a real joint Finastra effort to support this project from various locations including London, Budapest, Dubai and Manila. AM Bank and Finastra worked collaboratively throughout the process. Together we formed an expert team with the objective of getting Fusion Digital up and running, and we did it."

About Finastra Corporate Headquarters Finastra unlocks the potential of people and businesses in fi nance, creating a platform for open innovation. Formed in 2017 4 Kingdom Street by the combination of Misys and D+H, we provide the broadest portfolio of fi nancial services software in the world today— Paddington spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to London W2 6BD deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve United Kingdom customers effectively, regardless of their size or geographic location—from global fi nancial institutions, to community banks and T: +44 20 3320 5000 credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 90 of the world’s top 100 banks use Finastra technology. Please visit fi nastra.com

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